Cairo – Mubasher: The board of directors of Elsewedy Electric gave a nod to buying 1.4 million treasury stocks at EGP 62.5 per share.
The company stated that the purchasing period will start on 19 October until 25 October and will be self- financed.
Recently HC securities & investment has set Elsewedy Electric’s fair value at EGP 73.8 per share.
Elsewedy Electric reported net profits of EGP 1.35 million in 2015 compared with EGP 445 million for the previous year.
